Level 1: This is the highest level of PCI compliance. Level 1 requires any business that processes more than 6 million transactions per year to comply with stringent security standards. Any company that meets this threshold must complete an annual on-site assessment and adhere to a wide range of requirements, such as installing firewalls, encrypting sensitive data, and regularly monitoring the network for suspicious activity.
Level 2: Level 2 requires any business that processes 1 million to 6 million transactions per year to comply with stricter security standards than level 1. Companies at this level must complete a quarterly vulnerability scan, and must also encrypt all data stored or transmitted throughout the system, as well as ensure that employees and customers are using secure passwords.
Level 3: Level 3 requires any business that processes between 20,000 and 1 million transactions per year to comply with strong security standards. Any company at this level must complete an annual self-assessment questionnaire, as well as meet a range of other compliance requirements, such as storing all customer data securely and regularly monitoring the network for suspicious activity.
Level 4: Level 4 of PCI compliance, and requires any business that processes less than 20,000 transactions per year to meet basic security standards. Companies at this level must submit a self-assessment questionnaire annually, encrypt all data stored or transmitted throughout the system, and ensure that employees and customers are using secure passwords. They must also install firewalls, regularly monitor the network for suspicious activity, and complete a quarterly vulnerability scan.
Overall, PCI compliance is essential to protecting customer data and ensuring that your business runs smoothly. By following these four levels of compliance, you can help ensure that your company operates within the security standards set out by the Payment Card Industry. The cost of failing to comply with these standards can be steep, so make sure you follow these four levels of compliance to protect your business and customers alike!
It’s also important to remember that you may still need to meet additional security requirements in order to adhere to local and regional laws, so make sure to check with your local authorities for any additional compliance standards. By taking the time to understand these levels of PCI compliance, you can help protect your customers, business, and its reputation.